Lan Foan: "Since the 14th Five-Year Plan, the intensity of fiscal policy has become stronger, with the fiscal deficit ratio increasing from 2.7% to 4% this year."

Minister of Finance, Lian Weizheng, stated at the State Council Information Office's "High-quality Completion of the 14th Five-Year Plan" series theme press conference on September 12 that since the 14th Five-Year Plan, the fiscal policy has become more forceful. The deficit ratio has increased from 2.7% to 3.8%, further increasing to 4% this year; a total of 19.4 trillion yuan of additional special bonds for local governments have been arranged; and over 1 trillion yuan in tax cuts, fee reductions, and tax refunds have been implemented.